60K policies to be removed quickly and the good news for consumer’s is that Heritage Insurance  will agree to the Citizens Glide path for rate hikes cappped at 10% for the next 3 years.  This is the good news for all of us as now we know what will happen and what to expect and tell our clients to expect. This is a sweet deal for Heritage as they will be paid by Citizens for every policy removed because they will take over all claims from 1/1/2013. Since they are selecting the policies they are taking, none with claims are likely so the money will go to surplus. Since that in tune with the Re-insurance program in place they will be welll capitalized for claims which is what will really matter when a Hurricane hits Fort Lauderdale and anywhere in South Florida. Since most of the policies will come from South Florida, when a Hurricane really hits they will need the money for sure. This is still good news overall for the Florida consumer’s and the agents as well. Please read the full article below and please call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://www.insurancejournal.com/news/southeast/2013/05/28/293434.htm